Saturday, November 01, 2014

Wellsville bank set to change owners

By The Herald Staff | 1/18/2012

WELLSVILLE — Landmark National Bank is expanding its reach into the Franklin County area with its planned acquisition of The Wellsville Bank later this year.

Manhattan-based Landmark said Wednesday it expects the acquisition to be completed in the second or early third quarter of 2012, according to a news release. The transaction is subject to regulatory approval, as well as approval from shareholders of Wellsville Bancshares Inc., the sole shareholder of The Wellsville Bank, Wellsville, the release said. Upon completion, The Wellsville Bank would be merged into Landmark National Bank.

WELLSVILLE — Landmark National Bank is expanding its reach into the Franklin County area with its planned acquisition of The Wellsville Bank later this year.

Manhattan-based Landmark said Wednesday it expects the acquisition to be completed in the second or early third quarter of 2012, according to a news release. The transaction is subject to regulatory approval, as well as approval from shareholders of Wellsville Bancshares Inc., the sole shareholder of The Wellsville Bank, Wellsville, the release said. Upon completion, The Wellsville Bank would be merged into Landmark National Bank.

Landmark, with $578.4 million in assets, said it operates in 16 communities across Kansas.

“Wellsville provides us with a great opportunity to expand our already strong presence in Kansas, and allows Wellsville’s customers to continue to bank with a community-focused financial institution,” Patrick Alexander, Landmark president and CEO, said in the release.

Alexander said Landmark is looking forward to serving the Wellsville community.

Nancy Evans, executive vice president and a director of The Wellsville Bank, said the bank also was looking forward to partnering with Landmark.

“The community and customer focus that Landmark is well known for fits very nicely with the community banking services that the Moherman family has delivered to Wellsville over the past century,” Evans said.

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